The global payment security market is expected to witness a high growth in the coming years. The payment security system is growing with the increasing numbers of e-Commerce and m-commerce transactions. Moreover, the tokenization technology is innovation to this market which improve payment security and provide a payment process. It provides the customer authentication without affecting the transaction’s security.
The study indicates that the e-commerce allows the secure online payment solution, which generate unique virtual number. The online payment transactions is using digital signatures to ensure authentication of transactions. While, Secure Sockets Layer is the most commonly used protocol across the industry as it meets the security requirement such as authentication, encryption, integrity, non-reputability.
The Global Payment Security Market is growing rapidly over ~17% of CAGR and is expected to reach approximately USD~ 27 Billion by the end of forecast period.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “The Payment Security Market Research Report -Forecast to 2023”.
The Payment Security Market has been segmented on the basis of component, organization size, end- users, and region. The component is segmented into services and solution. The organization size includes large enterprises, small and medium-sized enterprises. The end user segment includes BFSI, healthcare, IT and telecom, travel and hospitality. The payment security has wide range of applications across several industries such as banking and financial sector, media and entertainment and others. The advanced payment security leads to the developments in the services and software modules and this will grow the demand of payment security market.
On geographic basis, the global payment security market is studied in different regions as America, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with largest market share in the payment security market. In this region, this market is growing due to the payment security system maintains the log file till it is practical to maintain. Europe is estimated to be the second largest market for payment security during the forecast period, this is due to the increasing demand of on-line payment security which recognize the fault diagnosis and prognosis of the system. In APAC region is estimated to the highest CAGR in the forecast years the companies are investing to enhanced payment security and provide the best solution to the customer
The prominent players in the global payment security market – Ingenico ePayments (Netherlands), Intelligent Payments (Gibraltar), GEOBRIDGE Corporation (US), Braintree (US), Elavon (US), Index (US), Shift4 Corporation (US), Transaction Network Services (TNS) Inc. (US), TokenEx, LLC (US) and CyberSource Corporation (US), among others.
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